In a report published Tuesday, Morgan Stanley analyst Jennifer Swanson Lowe reiterated an Underweight rating and $67.00 price target on NetSuite N.
In the report, Morgan Stanley noted, “N posted another strong Q as billings, revenue, cash flow, and EPS all beat while CY14 guidance moves higher. Execution remains solid and SuiteWorld should be an added positive, but N remains one of the most expensive SaaS names relative to growth, and we continue to prefer names like NOW that have also pulled back from highs.”
NetSuite closed on Monday at $73.59.
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